Legal Question in Credit and Debt Law in Florida
I have been laid off from my job. I made a loan agreement for $93.26 a week for my car, but the Auto Loan company and I made a verbal agreement to pay the $93.26 every two weeks instead. This arraingment was back in September and now they are changing their mind. I am still making the two week payments, but now they want to take the car back. My question is as long as I am paying the verbal agreement, can they come and take the car? Thanks in advance for you help.
2 Answers from Attorneys
Verbal agreements can be enforceable, but probably not in this case. If the initial agreement was in writing, and it was written in legal jargon, I would be willing to bet that it has a clause which says "No oral modification -- any modification of this agreement shall be in writing and signed by both parties hereto." Even if the contract does not say that, you will have a hard time proving that the oral modification exists. So, if the oral modification is invalid or you can't prove it, then you are in breach of contract, and yes, they can come and take the car back.
If it is not in writing, they can take the car.
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